中信里昂：上调太古地产目标价至22.2港元 维持“买入”评级

Group 1 - The core viewpoint of the report is that Citic Securities has raised the target price for Swire Properties (01972) by 21.3%, from HKD 18.3 to HKD 22.2, while maintaining a "Buy" rating [1] - The improvement in Swire Properties' fundamentals, strong real estate sales bookings, and the completion of investment properties are expected to accelerate profit growth and support the stock price [1] - Citic Securities has adjusted its earnings forecasts for Swire Properties, increasing the 2025 and 2027 earnings estimates by 6.9% and 1.1% respectively, while slightly decreasing the 2026 earnings forecast by 0.3% to reflect changes in asset sales and delivery plans [1]